How can I prepare myself to get a million dollar loan?
Let me preface this by saying one thing: I don't want to get a million dollar loan right now, but I do want to get a million dollar loan the next time the real estate market corrects itself.
That being said, I've decided that when the housing market goes down, I want to invest a million dollars into a commercial real estate property.
I know that right now, there is no way any bank would loan me a million dollars, but what are some of the things that I can do right now to increase my capacity for debt?
Some things I'd like some insight on: importance of credit score, what experience I'll need, type of lenders I should approach, down-payment I should have ready, things I can do to appear less risky to banks, etc.